Steemit Crypto Academy Season 2, Week 2 Homework Post For [@levycore] || Non-Fungible Tokens (NFTs) - All About CryptoKitties a NFT Project

in SteemitCryptoAcademy3 years ago

Hello, @everyone I hope you will be well and good. As we know that Season 2 is running in the Steemit Crypto Academy and the professors are providing their lectures to the students and the students are learning and as well earning from these lectures.

I have also attended the lecture of professor @levycore about the Non-Fungible Tokens (NFTs) as I have learned a lot of things from this lecture as I did not know about the Non-Fungible Tokens (NFTs) before attending this lecture. If you also want to learn and earn then do not waste your time and join the class.


Join Class: Steemit Crypto Academy Season 2: An Introduction to Non-Fungible Tokens (NFTs)


As we are going to talk about any popular project that uses NFT so first of all I want to explain the term "Non-Fungible Tokens (NFTs)".

Non-Fungible Tokens (NFTs)

The term Fungible means interchangeable. It means that a product can be changed with any other product of the same kind quickly. But Non-Fungible means that cannot be exchanged with others because they are unique assets. Similarly, we can say that Non-Fungible Tokens are those tokens that cannot be exchanged with other identical tokens. And all the projects built on the ERC-721 standard are known as the NFTs based projects.

At present, there are many Non-Fungible Tokens that are operating in the world of crypto and dominating the crypto era. These are old but these took potential in the past few years ago. The market of NFTs raised up in 2017 and now NFTs have become very popular.



CryptoKitties A Popular Project That Uses NFT



Introduction To CryptoKitties

CryptoKitties is a game based on the ethereume and it has ERC-721 standard so it is an NFT project. As from the name it is clear that it is all about the kitties (Cats). It is a game in which we have to collect Cats and then breed them to increase them. As the tokens used in the game are NFTs so every token has its own uniqueness and it represents the unique cats in the blockchain. And that specific token cannot be used for the other cats. And these tokes can not be destroyed or taken away.

Cryptokitties is the first NFTs protocol that is about the mainstream and it started in late 2017 and attracted a lot of audience towards itself. Many people used this system and bred many new cryptokitties by some simple steps and earned a lot of profit by selling the newly bred cryptokitties in the market of the cryptokittieis. We can imagine its popularity by knowing that it hit the record of all-time high transactions on the ethereume blockchain.

The Crypto Cats used in the game are of different kinds which can be distinguished on the following basis:

  • Different Appearance
  • Different Characteristics
  • Different Accessories

How To Breed Cats In CryptoKitties?

As in the cryptokitties game we have to breed the cats so let's learn how to breed them.

First of all, you have to make an investment to buy these cats as it is ethereume based system so you have to deposit ethereume in the official wallet of the Cryptokitties, and then you have to buy these cats by giving your ethereume. If you are interested to buy cats and then breeding them here is the wallet MeetDapper.

As we know that every cryptokitty is unique with its own qualities and characteristics. So let suppose we have two cryptokitties and we want to breed them. So when we breed these cats they give a new kitten with the composition qualities of both the cats used in the breeding and this is known as the "Cattributes"


Let Suppose we want to breed these two cats

So we have selected the cryptokitties and now we want to breed them and want to get new cryptokitty which is known as the cattributes as it is the composition of the two-parent Cryptokittties.

To breed these two cryptokitties we have to Click BREED

After clicking the We will see an interface like this and there we will see two cryptokitties and the first one will be the Preggers. Preggers means a female cryptokitty that is pregnant now.

The second cryptokitty is the male cryptokitty and it will be the father of the new cryptokitty and it is known as the Sire.

After the selection of these two cryptokitties as Preggers and the Sire now they need some time to do breeding. So we have to allow them for breeding.

But the most important thing to know for this procedure is the fees required for the breeding purposes which is about 0.008 ether and you have to pay this fee to continue the procedure of breeding.
screenshot-www.cryptokitties.co-2021.04.20-10_10_57.png

Here you can see the total of all the fees and the price of breeding as I am going through a tutorial so it is showing 0 fees.

After the breeding of two cryptokitties we have discovered a new eye shaped cryptokitty which is know as fabulous.

After giving them some time we get a new egg as I have captured the screenshot and have shown you and now we have to click on that egg to get our new bred kitty. So when we click on the egg we see a new Cryptokitty.

The complete process of breeding and the involvement is here.

So in this way, we can breed the new cryptokitties by using our own old cryptokitties. When the two cryptokitties one Preggeres and the other Sire contribute breeding and give us a new cryptokitty then they require some time to cool down. And after that specific time interval, they are again ready to breed and to produce a new cryptokitty.

screenshot-www.cryptokitties.co-2021.04.20-10_27_47.png

Now in the profile, we can see that there are three cryptokitties which were only two. As I have highlighted the breeding speed and time of rest for the given cryptokitties with the blue color.


Have a look here in the video about the breeding process - Source

Every kitty has its own different and unique properties as you can see the first crypto kitty is of Generation 3 and it is (1min) fast means to say that it will be able to breed again after 1 minute. And the 2nd crypto kitty is of 2nd generation and it is somewhat slow than the first one and fast than the second one. It takes 5 min to be prepared to breed again.

And the 3rd one is snappy and it is slowest than all other cryptkitties which we have as it took 10 minutes to breed again after the first breeding.

screenshot-www.cryptokitties.co-2021.04.20-11_43_08.png

Some of the fancy cryptokitties which are hard to breed and it is difficult to chase them.

Value/Price Of CryptoKitties

The value or price of each cryptokiity is determined by the generation and the other traits (breeding speed) of the cryptokitty. The cryptokitties which are less in the number of generation are more valuable and rare. It is because of the fast speed of breeding and then less time for the rest to breed again as they can produce more cryptokitties so they are more valuable and worthy.

So by these price analysis, we can say that the cryptokitties of Gen 0 are the fastest and the most worthy cryptokitties. As these supply is fixed to about 50,000.


CryptoKitties Tokens

There are three cryptokittties tokens and each token has a different price and these are differentiated by their generations.

  • Wrapped Basic CryptoKitties
  • Wrapped Gen-0 CryptoKitties
  • Wrapped Virgin Gen-0 CryptoKitties

The cheapest cryptokitties token is Wrapped Basic CryptoKitties. According to the Coinmarketcap its price is about $5.16 and its total supply is 65,610 WCK.

The second number token according to its price is Wrapped Gen-0 CryptoKitties and according to the Coinmarketcap its price is about $304.62 and its total supply is 1,921 WG0 which has been achieved already it means that new WG0 will not be produced and these existing WG0 will circulate in the markets.

The most costly cryptokitties token is Wrapped Virgin Gen-0 CryptoKitties and according to the Coinmarketcap its price is about $484.90 and its total supply is 340 which has already been reached and its all-time the high price is 1241.47.

Social MediaInfo
Reddithttps://www.reddit.com/r/CryptoKitties/
Twitterhttps://twitter.com/cryptokitties
YouTubehttps://www.youtube.com/channel/UClUgQBJcxAmHjOQgV4QgVXg
Instagramhttps://www.instagram.com/cryptokitties/
Discordhttps://discord.com/invite/cryptokitties

Supported Wallet

As we need a wallet to Log In to such websites and to buy the assets in these website just like the cryptokitties. So if you want to buy kitties in the cryptokitties or you want to breed the cryptokitties you must have a supported wallet.
Cryptokitties supports the MetaMask Wallet. So firstly install Metamask and then deposit ethereume to your metamask wallet and then you will be able to do in cryptokitties.



Conclusion



In the conclusion, I will say that if you are ready to invest then you should invest in the NFTs which give a lot of profit due to their uniqueness as you can see in the cryptokitties there is a lot of profit. And the prices of every NFTs project token are high and there is a lot of profit. So you can consider NFTs to make money but it is not a piece of financial advice and I will not be responsible of your any loss or gain. So it was all about the cryptokitties a NFT project. But before investing in the cryptokitties please look out the Whitepaper of the cryptokitties.



All the screenshots are taken from the cryptokitties



Cc:- @levycore, @alphafx

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Hi @mohammadfaisal, thank for submitting your homework

Feedback

Well explained

Rating : 9

You are very hardworking person.keep it continue

Thank You dear for the best compliments.

hola amigo una pregunta tu estas trabajando con esta plataforma?

Gracias hermano por acercarte a mi puesto. La cuestión de mi trabajo es que no estoy trabajando con esta plataforma CryptoKitties y solo estoy trabajando aquí en steemit. La mejor plataforma gratificante. Steemit ha cambiado mi vida y también está cambiando todo el tiempo.

Thank You Professor @levycore for checking my post.

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